Owl Labs, which built an AI-powered, 360-degree video conferencing solution, announced a $25 million Series C investment and a strategic partnership with HP, bringing the company’s total funding to more than $47 million. The funding round was led by HP Tech Ventures, the venture capital arm of HP Inc. Angelo Del Priore, Partner at HP Tech Ventures, has joined Owl Labs’ Board of Directors. Owl Labs’ strategic partner in Japan, Sourcenext, also participated in this round, along with existing investors Matrix Partners, Spark Capital, and Playground Global.
Owl Labs will use the funding to support product development and increase global adoption of the company’s products, including the Meeting Owl product line, the AI-powered, 360-degree camera, microphone and speaker that automatically zooms in on whoever’s speaking; Whiteboard Owl, a dedicated camera that adds any in-room whiteboard to video conferences; and Meeting HQ, an in-room computer and control center for video meetings.
The company recently launched the latest device in its flagship product line, the Meeting Owl 3. More than 130,000 organizations globally, including 84 Fortune 100 companies, use Owl Labs products to ensure a level playing field between in-person and remote participants in hybrid meetings.
HP will collaborate with Owl Labs to continue its accelerated growth, invest in its hardware and software, expand its global footprint and deepen go-to-market partnerships starting with a commercial agreement between Owl Labs and HP France, where HP will launch Owl Labs’ products with their local sales teams. HP will provide sales coverage and outreach with enterprise companies, and further deepen the company’s relationships with small businesses and educational institutions through Owl Labs products. Owl Labs has been expanding globally since 2020 with significant sales and adoption in key European markets, with France being a high-potential growth market.
In a world where 98 percent of meetings have at least one remote participant but only 8 percent of the 89 million meeting rooms in the world are wired for video conferencing, Owl Labs devices make it possible for workers to communicate and collaborate no matter where they are. This is more necessary than ever, as an Owl Labs study found that 78 percent employees want to have a hybrid or remote working style, yet only 36 percent said their employers have upgraded their video technology to allow for more hybrid collaboration.
To learn more, visit OwlLabs.com.